JPMorgan Chase & Co hands out iPads to investment bankers

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Investment bank JPMorgan Chase & Co is reportedly giving its investment bankers Apple iPads to help complete their work while on the move.

With a larger screen to work with, the iPad might be seen as a threat to the established smartphones commonly used on Wall Street, including the popular BlackBerry from RIM.

"We believe there are real benefits in our working environment that can be realised using this device - as well as the personal productivity and enjoyment that come as part of the package," two managing directors at New York-based JPMorgan said in an email obtained by Bloomberg News, which reported the bank's conversion to the iPad.

RIM is currently developing its own PlayBook, which is seen as a potential rival to the iPad.According to the JPMorgan email Bloomberg has obtained, the bank will distribute iPads free of charge to all associates in its global investment banking division. Employees will get to keep the device as long as they remain at the unit until the pilot programme ends on 1 May 2011.

JP Morgan iPad users will be able to access emails, contacts and calendars. They will also have the ability to share and annotate documents and work on presentations. Applications for personal use will also be allowed.Earlier this year, Standard Chartered in the UK said it would be replacing its existing BlackBerry smartphone estate with the Apple iPhone platform.

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